Two petitions were today filed in the Supreme Court seeking an SIT investigation into the over Rs 11,000 crore banking fraud, allegedly involving billionaire jewellers Nirav Modi and Mehul Choksi, and also for a probe into the role of top management of the Punjab National Bank (PNB).

The petitions, filed by two Delhi-based lawyers, have also sought apex court's direction to the Centre to initiate process of deportation of Nirav Modi, who has allegedly gone out of India, and others related to the case as soon as possible, preferably within two months.

The plea seeking a court-monitored SIT probe in the case was filed by advocate M L Sharma who has said that the special investigation team should consist of retired judges of the apex court.

He has claimed that the banking fraud has caused serious injury to the general public and the state's treasury and it should be investigated not by an agency "being controlled by the political leaders/authorities".

The plea has alleged that loans were issued in the case without following Reserve Bank of India's (RBI) financial rule and regular systems.

The other plea has sought the court's direction to the Finance Ministry to set guidelines for grant of higher amount of loans of Rs 10 crore and above to ensure safety and its recovery.

It has also sought a direction for constitution of a committee of experts who would find the details of bad debt cases in the country.

The CBI has already registered two FIRs one on January 31 and another a few days ago against billionaire diamond merchant Nirav Modi, his relative Mehul Choksi of Gitanjali Gems and others for allegedly defrauding the PNB of about Rs 11,400 crore.